The net earnings of the authority, beyond that necessary for retirement of its bonds or other obligations or to implement the purposes of this chapter, may not inure to the benefit of any person other than the authority.
S.C. Code Ann. § 13-12-180
Net earnings of authority not to inure to benefit of person other than authority
1992 Act No. 515, SECTION 1, eff September 1, 1992; 1992 Act No. 518, SECTION 1, eff September 2, 1992.
Official source: South Carolina Legislature. Reproduced from public-domain South Carolina statutes; confirm against the official source for the current text. Not legal advice.